United States Secretary of States, Anthony Blinken, has called on Nigerian authorities to tackle the hydra-headed albatross ravaging the country and others other challenges in the business environment to attract foreign investments.
Blinken made this known during a press briefing with the Minister of Foreign Affairs, Yusuf Tugga, after a meeting with President Bola Tinubu at the Aso Rock Villa, Abuja on Tuesday.
He said that tackling the challenges in the business environment are key to unlocking the potentials in Nigerian economy.
“Nigeria offers real clear competitive opportunities for real investors. But at the same time, I think it is no secret that there remain long-term challenges to unlock its full potential,’’ Blinken stated, adding that “tackling corruption and making it easier for companies to repatriate capital” is imperative for attracting foreign investments into Nigeria.
Commenting on the impact of the ongoing reforms by the President Tinubu administration such as fuel subsidy removal and floating of the naira in the foreign exchange market, Blinken acknowledged that they have harsh effect on the citizens in the interim, and promised that the US will continue to support Nigeria to cushion it.
The US Secretary of State also assured that American companies are ready to partner with and invest in the Nigerian economy, especially in the tech sector.
“American entrepreneurs and companies are ready to partner and invest in Nigeria, particularly in the tech sector,” Blinken stated.
“We have tech giants that have teamed up with Nigerian partners to help meet President Bola Tinubu’s one million digital jobs initiative.
“Our tech entrepreneurs are fostering Nigeria’s next start-ups and our venture capital companies are working to finance them.
“So, we want to work in partnership to drive Nigeria’s tech revolution,’’ he added.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
